Just Eat Takeaway Sells Grubhub to Wonder Group for $650M

Just Eat Takeaway has reached a deal to sell its U.S. arm, Grubhub, to Wonder Group for a significantly reduced price of $650 million, a 91% decline from the $7.3 billion it paid just four years ago.

The sale, set to close in early 2025, is expected to generate around $50 million in net proceeds for Just Eat Takeaway. Alongside the acquisition, Wonder will assume $500 million of Grubhub’s debt.

The move comes as the food delivery sector continues to face difficulties after the pandemic surge in demand. Companies that heavily invested in food and grocery delivery during lockdowns are now grappling with unsustainable business models as consumer habits return to normal.